Why Unusual Machines Stock Popped Today
Can a ban on foreign drone parts make Unusual Machines stock a winner?
Why Unusual Machines Stock Popped Today
Overview
Unusual Machines (NYSEMKT: UMAC) stock jumped 13.1% through 3:30 p.m. ET Thursday after Needham analyst Austin Bohlig raised his price target on the drone stock by 36%, to $30 per share.
Image source: Getty Images.
Demand for U.S.-produced drone components "continues to far exceed available supply," reports Needham -- and is still growing. As the only (that I know of) pure-play, publicly traded supplier of low-cost drone parts based in the United States, Unusual Machines is a likely primary beneficiary of U.S. legislation that, since December last year, has banned the import of critical drone components from foreign sources.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
